Paper Ventures — Full Portfolio

Vertically integrated Ethereum infrastructure stack offering wallets, rollups, interoperability, and ZK services.

Diego Kingston(Founder)Federico Carrone(Founder)Mauro Toscano(Founder)Roberto Catalan(Founder)

Co-investorsLELemniscapODOddiyana VenturesSYSymbolic CapitalGUgumi Cryptos Capital (gCC)HEHetz Ventures

Cambrian builds blockchain data and AI infrastructure, drawing on experience in onchain data, verifiability, and DeFi data systems.

AI & Machine LearningCrypto & Web3Data & InfrastructureFintechLondon

SGSam Green(Founder)inFady Saad(Director)Oliver Mitchell(Director)Joao Filipe Nunes Seabra(Executive Officer, Director, Promoter)Miika Petteri Satori(Executive Officer, Director, Promoter)

Co-investorsBLBlockchain BuildersGSGS FuturesCYCybernetix VenturesFLFlow TradersFRFranklin TempletonNJNJF Capital+3 more

Cambrian is a venture capital firm that writes $300k–$1mm+ pre-seed and seed checks (as lead, co-lead, or participant) into early-stage fintech companies.

FintechSan Francisco, US

RSRex Salisbury(Solo-GP)in

Co-investorsSASandwich CapitalFLFlow TradersFRFranklin TempletonNONomad CapitalPOPolychain CapitalSESelini Capital

Camp Network is a Layer-1 blockchain for intellectual property infrastructure, providing a global IP registry that lets users own and monetize their IP and enables AI agents to train on user-owned IP.

AI & Machine LearningCrypto & Web3Data & Infrastructure

JCJames Chi(Founder)inNirav Murthy(Founder)in

Co-investors1K1k(x)1K1kxBLBlockchain CapitalETEterna CapitalHTHTX Ventures (ex Huobi Ventures)HYHyperithm+12 more

Cap is a three-sided onchain platform for USD yield, private credit and financial guarantees, headquartered in New York.

New York, US

Benjamin Sarquis Peillard(Executive Officer, Director)

Co-investorsALAlphaLab CapitalBRBreedCACaladanFLFlowdeskFOFourth Revolution Capital (4RC)G1G1 Ventures+9 more

Cluster provides go-to-market infrastructure for AI agents, giving them access to 50+ GTM data sources, LinkedIn and email sending tools, and the ability to run many subagents in parallel for outbound prospecting.

AdTechAI & Machine LearningData & InfrastructureSales TechNew York City, US

Co-investorsTETechstarsMAMapleblock Capital

Cluster is a virtual-space platform whose users join events and live performances from smartphones, PCs and VR headsets.

Co-investorsBABaseline VenturesGLGlobal BrainKDKDDI Open Innovation FundSKSkyland VenturesFIFirst Round CapitalFRFreestyle Capital+4 more

Utexo develops infrastructure for bringing USD Tether (USDT) to Bitcoin, leveraging RGB and Lightning Network technologies to enable Bitcoin-native stablecoin payments.

Crypto & Web3Data & InfrastructureFintech

Viktor Ihnatiuk(Co-founder)Chris Hutchinson(Co-founder)Renat Skitsan(Co-founder)

Co-investorsFUFulgur VenturesBIBig Brain HoldingsMAMaven 11

DoubleZero operates a network that delivers raw market data feeds over dedicated fiber links contributed by independent operators, bypassing public internet latency for trading firms, validators, and platforms.

Crypto & Web3Data & InfrastructureFintechGeorge Town

BoardOLIVER BELL(Director)

Co-investorsCRCrucible CapitalDRDragonflyFOFoundation CapitalGSGSRMEMetastableMHMH Ventures+4 more

Drosera provides a security protocol built around "Traps," on-chain mechanisms designed to detect and respond to threats, aimed at developers and operators in the blockchain space.

Crypto & Web3Cybersecurity

Co-investorsARArrington CapitalMEMetamatic GroupNXNxGenUDUDHCUNUniversal DeFi Holding CompanyARArrington XRP Capital+1 more

ETHGas enables validators and node operators to monetize blockspace by selling priority access to traders, agents, and protocols, generating predictable yield beyond standard staking rewards through a programmable marketplace.

Crypto & Web3Data & InfrastructureFintech

Kevin Lepsoe(Founder)

Co-investorsCOComma3 VenturesNONode CapitalBLBlueYard CapitalPOPolychain Capital

Forgotten Playland: Party Edition is a multiplayer party game where players customize characters called PlushKyns and compete in a variety of competitive mini-games set in themed areas.

ConsumerGaming

Co-investorsWWWWVenturesC2C2 VenturesMEMerit Circle

Berkeley, US

Matt Wright(Founder)

Co-investorsMAMagnus CapitalRARayo Capital GroupTATaisu Ventures

Glacis Labs builds Zero Delta, a settlement network that matches institutional order flow to execute large digital asset trades and cross-border remittances with zero slippage and no prefunded float.

Crypto & Web3Enterprise SoftwareFintech

Cofounder (JPMorgan, Spruce)(Cofounder)Technical Cofounder(Technical Cofounder)

Co-investorsARArrington CapitalEDEdessa CapitalFAFactionPRProtagonistARArrington XRP Capital

Glacis builds software for supply chain coordination that integrates with existing workflows and systems without requiring suppliers or partners to change their processes.

AI & Machine LearningEnterprise SoftwareLogistics & Supply ChainSaaS

Co-investorsMIMighty CapitalPRProtagonistARArrington CapitalFAFaction

Glacis provides runtime security controls and signed operational records for AI agent workflows that access tools, credentials, and customer data, enabling fast-growing AI companies to demonstrate compliance with enterprise security requirements.

AI & Machine LearningCybersecurityEnterprise SoftwareGovTech

JBJoe Braidwood(Co-Founder & CEO)inRTRohit Tatachar(Co-Founder & CTO)inJSJennifer Shannon(Co-Founder & Chief Medical Officer)in

Co-investorsALAllen Institute for AI (AI2) IncubatorARArrington CapitalCOCoinbase VenturesFAFactionFRFranklin TempletonPRProtein Capital Management

human.tech provides a privacy-preserving identity and control layer for people, institutions, and AI, using zero-knowledge proofs and client-side cryptography built on W3C Verifiable Credentials and eIDAS 2.0 standards.

Crypto & Web3CybersecurityGovTech

Co-investorsDRDraper DragonUDUDHCUNUniversal DeFi Holding CompanyNVNVP CapitalY Y Combinator

Hyve provides a verification layer that lets financial apps and agents check a counterparty's data—such as a fund's NAV, loan book, reserves, solvency, and leverage—without exposing the underlying raw data.

Crypto & Web3Data & InfrastructureFintech

Co-investorsLELemniscap

Limitless is a prediction market platform where users trade on outcomes across categories including crypto, sports, finance, and politics.

Crypto & Web3Fintech

Dima Horshkov(Founder)in

Co-investorsCOCoinbase VenturesCOCollider Ventures1C1confirmationARArrington CapitalDCDCGDEDell Technologies Capital+6 more

Limitless Labs develops a foundation AI model for mechanical parts manufacturing along with a platform that integrates into CNC programming, quoting, and inspection workflows.

Advanced ManufacturingAI & Machine LearningDeep Tech

Co-investorsDEDell Technologies CapitalMEMeron CapitalSQSquare Peg Capital1C1confirmationGRGrove Ventures

MonkeyTilt is a crypto-based online gambling platform offering casino games (slots, live dealer tables, game shows, and exclusive originals), a sportsbook with pre-match and live betting, and poker, all funded through cryptocurrencies.

ConsumerCrypto & Web3GamingSan Jose, CR

SKSam Kiki(Founder)in

Co-investorsPAPantera CapitalPOPolychain CapitalCOCoinFundHAHack VCACAccompliceJOJosh Hannah+2 more

Naptha.ai helps businesses adopt agentic software development by addressing AI agent interaction problems that lead to poor user experience and churn.

AI & Machine LearningDeveloper ToolsEnterprise Software

Co-investorsPOPolymorphic Capital

Perle provides expert-driven data services for AI teams, supplying credentialed specialists to handle data collection, labeling, quality assurance, evaluation, and RLHF/RLAIF for tasks that generic crowd-worker vendors can't judge.

AI & Machine LearningData & InfrastructureEnterprise SoftwareRoboticsSan Francisco, US

ARAhmed Rashad(Founder)in

Co-investorsACACTAI VenturesALAlphaLab CapitalBIBig Brain HoldingsBRBreedCACaladanCOCoinFund+3 more

Polychain is an investment firm that manages actively managed portfolios of blockchain-based digital assets, focusing on returns from the cryptocurrency sector.

Crypto & Web3

OCOlaf Carlson-Wee(Founder)in

Co-investorsA.A.Capital VenturesABAbstract VenturesANAndreessen HorowitzBOBollinger Investment GroupDIDigital StrategiesINInitialized Capital+14 more

Psy is a Layer 1 blockchain protocol built with a PARTH architecture and Proof of Useful Work consensus, aiming for high transaction throughput, fixed low fees, and local zero-knowledge proving so user data stays on-device.

AI & Machine LearningCrypto & Web3Cybersecurity

Co-investorsPRProtagonist

Speedstake is a Solana-based product that lets stakers sell their future staking rewards for SOL upfront without unstaking, keeping their principal delegated.

Crypto & Web3Fintech

Co-investorsCOCoinbase VenturesMAMarin Digital VenturesVAVariant FundSOSolana Labs

Qooverse is a mobile games publisher focused on fast-paced titles that can be played in minutes or seconds, including merge and PvP games featuring characters called Qoomons.

ConsumerGaming

Raise offers a consumer rewards platform where users buy digital gift cards from over 1,200 brands and earn stackable "Raise Cash" rewards that can be applied to future purchases.

ConsumerE-commerceFintech

George Bousis(Founder)Jay Klauminzer (CEO)(Founder)

Co-investorsACAccelALAllied Venture PartnersBOBorderless VentureLIListen VenturesMAManta Ray VenturesNENew Enterprise Associates (NEA)+4 more

Rakurai builds a high-throughput, low-latency validator client for web3 infrastructure, aimed at blockchain validators who want to pack denser blocks and capture higher yields.

Crypto & Web3Data & InfrastructureDeep TechDeveloper Tools

Co-investorsANAnagram VenturesRORobot VenturesSLSlow Ventures

Rena Labs provides a TEE (trusted execution environment) data exchange for confidential AI training and inference on proprietary data, with encryption, on-chain logging, and compliance features.

AI & Machine LearningCrypto & Web3Cybersecurity

Co-investorsETEterna CapitalFAFactionMAMapleblock Capital

Renzo Protocol provides liquid staking and restaking infrastructure along with reserve vaults that deploy capital into delta-neutral, RWA-backed, and basis/carry trade strategies.

Crypto & Web3Fintech

Lucas Kozinski(Founder)

Co-investorsBABankless VenturesBIBitDAOCRCrypto DiscoverEDEdessa CapitalFIFigmentGAGalaxy Ventures+6 more

Scroll AI is a browser-based AI notebook that ingests documents, media and web pages and answers questions about them.

Co-investorsGMGMG VenturesMEMercuri.vc1C1confirmationARArrington CapitalCOCoinbase VenturesCOCollider Ventures+7 more

Sophon is a crypto project transitioning its SOPH token from a chain-based gas and staking model to a buyback-and-burn programme funded by product revenue.

Crypto & Web3Fintech

DDDoreen Du(Founder)in

Co-investorsBEBeamHTHTX Ventures (ex Huobi Ventures)IMImpossible FinanceMEMerit CirclePEPerridon VenturesWWWWVentures+4 more

TAC is a blockchain built for Ethereum-based decentralized applications to access TON and Telegram's user base of over 1 billion users.

Crypto & Web3Developer ToolsFintech

Co-investorsHAHack VCSYSymbolic CapitalTHThe Open Platform

Telegram is a messaging application that prioritizes simplicity, privacy, and speed, offering encrypted messaging, cross-device synchronization, and support for large group communications.

ConsumerMedia & EntertainmentSector AgnosticSocial

Co-investors1010SQ Capital (TenSquared)AFAfford.CapitalALAliya Capital PartnersALAlphabit FundAMAmeeteeANAngelONE Capital+59 more

Temple Digital Group builds financial infrastructure for capital markets, including a native trading platform, global asset registry, and issuance platform for the Canton blockchain.

Crypto & Web3Data & InfrastructureEnterprise SoftwareFintech

Evan Varsamis(CEO)Dan Simerman(CSO)John Antoniou(CTO)

Co-investorsETEterna Capital

YieldPoint operates a multi-chain crypto yield platform whose first product, Unity ($UTY), is a dollar-pegged, tokenized market-neutral position that generates yield from crypto trading activity rather than price direction.

Crypto & Web3Fintech

David B. Markley(Chief Operating Officer)inW. Sean Ford(Chief Executive Officer)Austin Campbell(Chief Strategy Officer)

Co-investorsBOBorderless VentureBLBlizzard the AvalancheBOBorderless CapitalCHChainview CapitalMAMantis CapitalPRProtagonist